Jan 13, 2021
Tosdis x Satoshi CLUB AMA Session 28 Dec 2020
PART 1. Introduction of Tosdis project and community questions.
Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project called Tosdis.
This project providing The One Stop Defi Interoperable Solution powered with Liquid Betting.
The plan of AMA session:
- Part — Introduction and preselected questions.
- Part — Live questions
- The Quiz about Tosdis finance
The reward pool is 500$
Leading the AMA our clever and fun admins:
Mary | Satoshi Club — @madamlobster and Gold Rocket | Satoshi Club — @GoldRocket27
The Representative of the project:
Mamoon Yousaf– @MamoonYousaf — CEO & TOSDIS Foundation member
Ryan Doeschate — @RyanDoes — Tech lead Tosdis.
Madeleine Nilsson — @madeleine_n — Co-Founder at https://313.agency and Tosdis.finance. Marketing @Tosdis
Introduction of Tosdis finance project
Mary | Satoshi Club:
Hello, again Satoshi Club! We are happy to announce our AMA session with Tosdis! Welcome to Satoshi Club
Gold Rocket | Satoshi Club:
Good evening, dear community!
We conclude our today’s AMA marathon series with Tosdis. Today our guests are @MamoonYousaf, @madeleine_n, @Cryptoriko Ryan Doeschate:
Hey guys, thanks for having us here.
Mary | Satoshi Club:
Hello! And welcome
Gold Rocket | Satoshi Club:
Thanks for joining
Mary | Satoshi Club:
How was your day?
Madeleine Nilsson:
Hello all. Thank you for having us here today.
Mary | Satoshi Club:
You’re welcome
Mamoon Yousaf:
Hello everyone!
Mary | Satoshi Club:
Welcome!
Gold Rocket | Satoshi Club:
Welcome to Satoshi Club, @MamoonYousaf, @madeleine_n, @Cryptoriko
Madeleine Nilsson:
Thanks.
Ryan Doeschate:
Thanks for inviting me.
Mary | Satoshi Club:
Guys, could you please introduce yourself and Tosdis project
Ryan Doeschate:
Hi everyone, My name is Ryan. I am a software engineer since the early 2000s and entered the blockchain space in 2014 to be precise. I have been managing remote teams around the globe and have built numerous DeFi projects in the past few years. Personally, I love to work on JS Stack, but I play with python as well. Blockchain is a pretty exciting thing to work on and solidity is my favorite language for this. I am a team player and known for completing milestones in time.
Mary | Satoshi Club:
Great background! So, you’re exactly what Tosdis needs
Thanks! Great experience
Madeleine Nilsson:
Sure, I am the Marketing lead at Tosdis as well as a Tosdis foundation member. I have been in the crypto space for the last 3 years whereas in the marketing field for the past 5 years. I run my own marketing agency.
I am an experienced digital marketing expert, a hardworking, self-motivated individual, and well versed in providing assistance, support, coordination, and executing global digital marketing campaigns. A dedicated, loyal, and dependable person with a vibrant, upbeat personality and possess excellent communication skills.
I am the founder of the 313 Agency, which is a marketing agency. I have been running it for the past 2 and a half years. I have worked both with Crypto and non-crypto projects. All of my other projects have been in stealth mode where I and my team have provided assistance with regard to Marketing, management, Influencers, etc. This is my FIRST full-time public project.
Mamoon Yousaf:
I am Mamoon Yousaf, CEO and Founding member of TosDis Finance. With years of global experience in business in a wide range of industries, I have successfully grown start-up companies and added value to existing companies. I would say Decentralized finance is the future, and I have been a silent investor of many successful crypto projects since 2015. Crypto is an emerging market where I see much potential from a business point of view, and TosDis is my part to play in the world of Defi.
Gold Rocket | Satoshi Club:
You are an amazing team with great experience guys! tell us about what unites you! about Тosdis
Mamoon Yousaf:
I would like to give a short answer to this. It is our ability to provide services to the DeFi space which are accessible and affordable to all.
Tosdis is what we call it DeFi-as-a-service. We are offering a range of projects which are not just short term hype products. We are offering products that are going to be used by literally every crypto project in the future. This is not a usual PnD project where you get Yield farming for a month and the project is dead after that.
The First 2 products from the range of products are Staking as a service and Yield farming as a service to all the existing and upcoming projects in the market. These are not just on paper but instead, we are coming to the market with working products that are audited by Hacken.io. Our staking as a service and Yield farming as a service is one of their kind and is ready to launch. The launch will happen Post public sale. For the rest of the features, you can refer to our website Tosdis.finance
Mary | Satoshi Club:
Very ambitious plans! When you will launch staking and Yield farming? Do you have timeframes?
Gold Rocket | Satoshi Club:
“DeFi-as-a-service” I really liked this concept
Mamoon Yousaf:
It is ready to launch. Contracts have been audited by hacken at multiple stages. We will time and execute the launch according to our public sale.
Mary | Satoshi Club:
You will have a public sale soon, right?
Mamoon Yousaf:
Yes, most probably in the 2nd week of January
Mary | Satoshi Club:
Do you already have details how to join it?
Mamoon Yousaf:
There are no details out yet but It will be on one of the DeFi protocols such as bounce
Mary | Satoshi Club:
Got it! Hope when you will have you will share with us also
Mamoon Yousaf:
Sure we will. I am sure you will be more excited about the sale when you get to know about the deflationary token economics and utility of the DIS token. Bring them on
Gold Rocket | Satoshi Club:
Please share with Satoshi Club when you know
Mary | Satoshi Club:
And thank you, guys, for this intro! Ready to start with our community questions?
Gold Rocket | Satoshi Club:
Yes! Great intro!
Madeleine Nilsson:
Sure. Go ahead, please
Preselected questions about the Tosdis finance DeFi project.
Gold Rocket | Satoshi Club:
Q1 from Telegram user @Ubik1337
We are all suffering from high fees on the Ethereum blockchain at the current moment…and I see you are working on your own DEX which will have to go live in the next year..you promising “lowest fee swapping protocol”…Can you elaborate on this? Will we really be able to save the essential amount of money on swaps? Can you give us some hint on how you will implement this? And why still no one ever did this? You think you are smarter than the other projects, which do the same things and already have big capitalization on the market?
Mamoon Yousaf:
We are considering using Liquidity aggregation between multiple DEXes and also CEXes probably if we can achieve this without sacrificing decentralization. There are also few features in research that aim to solve impermanent loss and high slippage issues.
If such issues are solved successfully or to some extent that surely it will be possible to save essential costs of trading on the decentralized exchange.
All of the features in the roadmap are currently under research to bring out the best outcome. There are various Decentralized exchange models available in the market and there are few new projects that are actually solving the current issues present in Uniswap. We are currently analyzing such models and will be updating users on the finalized model in the next version of the whitepaper
Regarding the last part of your question. It is not about being smarter than others. We don’t like to compare with others. It is about how you utilize your resources in the best way possible. The resource here I am referring to is our DIS token. We will be utilizing our DIS token to help reduce the fee on our Swapping protocol and at the same time compensate Liquidity providers with a reward for running the liquidity pools. Exact details of this mechanism can be found in our technical whitepaper which will be released tomorrow.
Mary | Satoshi Club:
Oh, got it, so, you will use DIS token.
Gold Rocket | Satoshi Club:
Sounds good!
Mary | Satoshi Club:
As I understand you will also have swaps, right?
And, btw, will the DIS token be approximately similar to the Chi token, which 1inch has?
Mamoon Yousaf:
No, DIS is completely different. DIS is a deflationary token that drives the adoption of our platforms. Without our token, None of the contracts on Tosdis network are deployable.
Mamoon Yousaf:
Yes, Swaps are the main basic function of our dex.
Mary | Satoshi Club:
Great
Gold Rocket | Satoshi Club:
Can we proceed? Or you want to add something?
Mary | Satoshi Club:
Thanks, waiting for the technical Whitepaper
Ready for the next question?)
Mamoon Yousaf:
Yes sure.
Gold Rocket | Satoshi Club:
Q2 from Telegram user @KeymerS
You say that the Tosdis cross-chain could be used for 12 different blockchains, but how can you really be sure if the first two chains of BSC and Polkadot have not yet been audited? How to know that it will be possible to develop them and make them efficient in other chains totally different from ETH?
Ryan Doeschate:
We are already built and ready with our products for the Ethereum chain which have been audited multiple times and have been approved for deployment. Building for Ethereum is what you can call is the foundational stone. Rest all are layers built over the concepts of Ethereum. BSC is mostly similar to Ethereum and fairly easy to achieve. Whereas, Polkadot is similar but more advanced than Ethereum in a number of ways and allows interoperability, which makes it easier to integrate other chains once the Polkadot integration is achieved.
Mary | Satoshi Club:
So, you will follow their updates and follow their development?
Btw, did you already built something testable on BSC? Or it’s just on the plans stage?
Ryan Doeschate:
Yes, we are and we are already building on the backend for these chains. Yes, we have.
Mary | Satoshi Club:
Do you test with community participation or just a team?
Ryan Doeschate:
It is just under the backend team for now. Nothing will go public without auditing.
Mary | Satoshi Club:
Thank you!
Gold Rocket | Satoshi Club:
You said that Hacken audited smart contracts for you, are you ready to share the results with us?
Ryan Doeschate:
It is public on our website. I will share the link anyways
Mary | Satoshi Club:
That would be great!
Ryan Doeschate:
Mary | Satoshi Club:
Thank you! Ready to proceed?
Gold Rocket | Satoshi Club:
Thanks for sharing
Ryan Doeschate:
You are welcome
Gold Rocket | Satoshi Club:
Q3 from Telegram user @Jonahapagu
As a Platform that will be offering staking-as-a-service integrating different blockchains…it is expected that a lot of projects especially those offering Defi services on supported blockchains will apply to use some of your staking features such as EASYStake and Yield Farming… for projects wanting to do so what requirements must they meet before being accepted into your platform.. and how are the applications of these projects reviewed.. will you be supporting newly developed projects and do you have plans that in no distant time the decision of what projects make it to your platform will be made by your community
Mamoon Yousaf:
We will be reviewing project applications to some extent to analyze if they have any malicious intent, for example, to stop anyone from creating staking pools with fake tokens. But TosDis is basically a service platform that offers any project to provide staking for their token so users have to do their own research before investing or staking with any particular project. There will be no restriction for new projects to use our Staking service.
Mary | Satoshi Club:
Do you review means audit? Will, your review with the third part help or by your own resources?
Mamoon Yousaf:
In the future, such decisions will be made by TosDis DAO governing members.
Mary | Satoshi Club:
They will review each project?
Mamoon Yousaf:
No, we will review ourselves. It is the user’s responsibility to research the projects they are investing in. We will just make sure there are no fake token staking pools on TosDis platform.
Mary | Satoshi Club:
Gotcha
Not everyone understands his own responsibility
But it’s true, especially in crypto now
Mamoon Yousaf:
Investing in projects by researching them is the user’s responsibility. TosDis is providing staking as a service. It is in no way liable to the investments people make in other projects.
Mary | Satoshi Club:
100% true
Ready to go forward to the next question?
Mamoon Yousaf:
Yes ready
Gold Rocket | Satoshi Club:
Great answer!
Q4 from Telegram user @Winterkom
– What is the difference between a normal staking and the liquid staking offered by Tosdis? Is there any difference when locking my tokens?
Ryan Doeschate:
Normal staking is what you all already know, So, I would explain liquid staking and why it is required.
If you normally stake ETH in phase 0 contracts, you will have to stake a minimum of 32 ETH, and lock them in the Ethereum network until the launch of phase 2. Tosdis aims to allow users to stake ether without losing access to their assets. Allowing users to trade, transfer, or yield farm in the world of DeFi. Tosdis will offer a decentralized infrastructure for issuing a liquid token that maintains the value of your Ether and is safer than exchange staking. This provides users with incredible flexibility compared to self-staking. The primary goals of TosDis are:
To allow users to participate in the Ethereum phase 0 staking contract and earn staking rewards without fully locking their ether;
To make it possible for users with lower balances to stake any amount and earn rewards on deposits different than 32 ether;
To reduce the associated risks of losing your staked ether due to technical failures or shady third-parties;
Unlocking the world of possibilities by providing a derivative token to be used or utilized in other applications and protocols (e.g., To transfer as a value, trade, or used as collateral in Lending protocols or other DeFi protocols).To offer an alternative to Self-staking semi-custodial and decentralized protocols or Exchange staking for that matter.
Mary | Satoshi Club:
Do we have projects with a similar systems on the market?
Ryan Doeschate:
Yes and No. Yes because there are projects that are providing liquid staking but they lack other features that we have and initially, they do have flaws. Apart from this, the major difference is the Token model attached to our liquid staking which no other project has.
No, because We are providing a full package.
Mary | Satoshi Club:
Do you have your token model described somewhere? Or it will be described in technical Whitepaper?)
Ryan Doeschate:
Token economics is on our web but the complete utility model will be revealed tomorrow
Mary | Satoshi Club:
Understand, Btw, will you have any bounties and drops? It a bit offtopic, but i have questions from the users.
Mamoon Yousaf:
We will have technical bounties related to smart contracts and auditing. But it will be very rare to drop freebies.
Gold Rocket | Satoshi Club:
all clear! ready for the next question?
Mamoon Yousaf:
Additionally, 80% of our supply will be community-owned. Yes!!!
Gold Rocket | Satoshi Club:
Q5 from Telegram user @reinleoken
With the wide range of product Tosdis offers, looking through the roadmap I couldn’t find a date for a mobile app launch, is it that you don’t consider a one-stop mobile app a priority? Or is a mobile app something we would see in the later part of 2021?
Mamoon Yousaf:
In current times when we are on the move most of the times, mobile apps are a must to manage your financial products and investments on the go. We have not yet added the mobile app to our roadmap, but it will be surely developed later in 2021 when we have achieved our most important milestones first. Probably we will add a mobile app in our next version of the whitepaper.
Gold Rocket | Satoshi Club:
Fine! We will follow the updates!
Mary | Satoshi Club:
You mean you will update your roadmap, right?
Mary | Satoshi Club:
Maybe you can give us a hint about more updates? Sure, the app is not the only one
Mamoon Yousaf:
Yes, there are many features under development to make the delivery on time. So we will keep updating the roadmap as progress is made.
Mary | Satoshi Club:
Awesome! And ready for the 6th and last question from this part?
Gold Rocket | Satoshi Club:
And this is a reasonable enough decision!
Mamoon Yousaf:
We have finished with Staking as a service, Yield farming as a service, and liquidity mining features on time. Next would be liquid staking as this is what we are focusing on most at the moment. But confirmed updates will be provided on our social media channels.
Mamoon Yousaf:
Yes, please
Gold Rocket | Satoshi Club:
Q6 from Telegram user @JesusFre1tes
Tosdis offers an easy, safe, and secure way to provide liquidity mining services to its holders. How high will the performance be with this model in EasyStake? Can I easily configure and implement the smart contract at economical prices and offer performance farming to my holders?
Mamoon Yousaf:
TosDis Yield farming as a service concept takes the staking service one step forward by offering Yield farming and liquidity mining to every ERC20 (initially) project in the market. Making these new and advanced technologies accessible to all the present and upcoming projects at cheap and affordable prices while also removing the barrier of development time and costs.
There will be pools on TosDis that will require LP token of certain liquidity pools on Uniswap. Users who want to yield farm will provide liquidity in a certain liquidity pool on Uniswap and get Uniswap LP token in return. Users will stake that LP token on TosDis and earn the mentioned rewards on the pool, maximizing their returns. This will help projects increase their liquidity on Uniswap, while users will be able to yield farm on their investments. It’s a win-win situation for everyone.
It will be a pretty simple and straightforward process for tokenized projects as they’ll only have to specify a few parameters/define rules to provide liquidity mining service for their token holders.
Mary | Satoshi Club:
For which projects Uniswap lp will be required?
Gold Rocket | Satoshi Club:
“DeFi-as-a-service”
Mamoon Yousaf:
Any ERC-20 token from Uniswap will work.
Mary | Satoshi Club:
Ok! I think that’s clear! Thank you for the detailed answers and now we are close to the part of the live question! Are you ready?
PART 2.Questions about the Tosdis finance project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Tosdis finance crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q — 1 from a telegram user @Jonahapagu
Probably almost all new DEX platforms promise to offer lower fees than other platforms available… in your case with Tosdex, you intend to do so using what you Called an Advanced Revenue model.. which will not only offer Low trading fees but also give the best returns for liquidity providers…first of all, will this DEX platform also be a Cross-chain platform if yes what kind of inter-chain protocol will you be implementing to enable Decentralized trading across different Chains.. and How does your Advanced revenue model in true sense help in offering lower trading fees and give best returns from liquidity providers….?
Mamoon Yousaf:
TosDex is still under research and there are many features planned which will be disclosed in the coming weeks. With TosDex, we aim to provide ease and convenience of CEX in a decentralized manner. For efficient, fast, and secure interoperability across chains, we are planning to use Polkadot’s parachains capability. Using Substrates framework, It will be far easier and secure to create a custom blockchain and connect our chain to Polkadot and get interoperability and security from day one. This will enable users to exchange their assets across supported chains with the lowest costs and zero hassle.
Q — 2 from a telegram user @Gutike95
Great innovations are currently being developed for DeFi stakes, such as Time Proof, Liquid Staking, and more. but do you really think that all these tools are necessary for DeFi? Or will just Liquid Staking be more than enough to enjoy the full potential of DeFi? Thx.
Mamoon Yousaf:
DeFi is new but it’s been picking its pace greatly since this year started. We believe every kind of decentralized finance is necessary because that is what will create a whole decentralized ecosystem for all kinds of financial applications, expanding the reach of decentralized finance. We should be considering all kinds of applications to become trustless and decentralized if possible.
Q — 3 from a telegram user @DrCassiterite
” Hacken ” was recently contracted by Tosdis to conduct a Smart Contract Code Review and Security Analysis.
What is the outcome of these audits, and will you do more security audits in the future?
Mamoon Yousaf:
We went through Multi-stage audit to clear out even the minor bugs that we could find and the outcome was great as expected. As more and more features are developed, we will go for an audit for every feature once it is developed. Security is an essential part of building financial applications.
Q — 4 from a telegram user @vedamatrix
The audit says “Function transfer from is not checked for success and can return a false value. Use SafeTransfer function instead.” What’s the meaning of this. Did you fix this?
Ryan Doeschate:
This question is not selected but answering it anyway. Everything was fixed as suggested. You need to read the audit report clearly.
Q — 5 from a telegram user @KASG95
There is very little left of this Q4 of 2020 and the goals planned for this date have not yet been completed, such as Deployment and Tosdis IDO, right? but is there really time to finish it before the end of the year? If not, would the entire road map be completely modified?
Ryan Doeschate:
No, the entire roadmap will not be modified. Just that the Sale and the Launch of Easystake will happen in Jan 2021 but the rest of the roadmap remains the same.
Q — 6 from a telegram user @Mora110
How about the tokenomics of $tosdis token
What is suitable for distribution in (SALE, UNISWAP LISTING, EXCHANGE LISTING, YIELD FARMING AND GOVERNESS, and MARKETING)?
What is the benefit of buying and holding it for a long time?
Madeleine Nilsson:
Let me answer the first part of the question is that the token economics and distribution is mentioned as below:
SUPPLY: 100,000 DIS
SALE (35%)
35,000 DIS (no pre-sale, no lock-up)
TOSDIS FOUNDATION (10%)
10,000 DIS (locked with a vesting period of 12 months, release 25% after every 3 months)
MARKETING (9%)
9,000 DIS (50% initial unlock (4500 DIS), remaining locked with a vesting period of 12 months release 8.33% after every 2 months)
UNISWAP LISTING AND EXCHANGE LISTING ALLOCATION (5%)
5000 DIS
YIELD FARMING AND GOVERNESS ALLOCATION (41%)
41000 DIS
Now let me answer the second part:
We have a great utility of our token along with a deflationary economy of token
Utility benefits for Holders:
45% or less (depending on governance) of all Platform fees paid by listed projects is distributed to DIS Holders.
45% or less (depending on governance) of all fees earned on TOSDEX is distributed to DIS Holders.
Yield Farming benefits for DIS holders.
Monthly Airdrops of other projects for DIS holders.
Staking rewards for DIS holders
2. Tosdis Token Deflationary Utility:
45% or more of All Staking fees paid by projects goes into burning DIS tokens.
45% or more of all fees/commission earned from liquid staking goes into burning DIS tokens.
Liquidity mining for Tosdis liquidity pools and rewards paid out in Tosdis tokens.
45% or more of all revenue earned from TOSDEX goes into Burning DIS Tokens.
Q — 7 from a telegram user @feranno
What is the business model of Tosdis? How many revenue sources do you have? Is it enough for the project to survive if the crypto winter lasts longer than expected???
Madeleine Nilsson:
Tosdis has a very unique yet straightforward business model. Every project that wants to enable Staking, Yield farming will have to pay a fee. Currently, there is only one competitor in the market i.e. Ferrum which charges around 7000–10000$ for Staking contracts. At Tosdis we will enable it at only 2000$. 10% of this fee goes to Tosdis foundation, 45% goes into burning the DIS tokens, and 45% is distributed among the DIS holders.
Apart from this, we will have revenue from Liquid staking, 10% of all rewards from the Liquid staking will be deducted. 5% will be kept by the Tosdis foundation and the remaining 5% will be distributed to the DIS token holders.
There are other revenue streams that are related to TosDEX and Barter but we are still finalizing the model for them.
Q — 8 from a telegram @Cakelov
As a DEFI company, it will not complete without a burn or buyback system. So does Tosdis have a burn/buyback system to increase the value of Tosdis token? If you have, how does that feature work?
Ryan Doeschate:
Tosdis is a deflationary token economy. Any service that is bought on the Tosdis network, the fees for that is distributed into 3 portions. 45% of the fee is burnt in the form of DIS tokens, 45% of the fee goes to the DIS holders and 10% goes to the Tosdis Foundation.
Q — 9 from a telegram user @highpee
I appreciate the team’s effort and I wish your project a success
.
In liquid staking, when issuing out token derivative which can be used in the interim, How do you determine the entitled reward of an underlying asset as well as the associated asset risk when issuing a token derivative on such staked assets?
Mamoon Yousaf:
There are multiple models of liquid staking and we are considering all of them to find out the best model for TosDis liquid staking. You will find more details about it in the whitepaper where we define all the models. The value of sETH is calculated on the basis of the total amount of ether staked plus total staking rewards and minus slashing or penalties applied on validators. There are multiple risks involved in liquid staking, same as other decentralized financial applications such as slashing or penalty to node validators. That is why we are working to figure out a better model than the current ones. But in any case, financial risks are always involved in one way or another in such systems but I’d say not much significant.
Q -10 from a telegram user @cryptofollower
I liked your Token Economics, it is clever, but why there is no information about token burn?
Ryan Doeschate:
The information about the token burn will be available tomorrow in the technical whitepaper.
Part 3 — Quiz about project
In the final part, we would like to check your knowledge in terms of the Tosdis Finance project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
Our contacts for more details:
English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website
Our Crypto Partner by this AMA: Tosdis Finance
Telegram group | Telegram Chanel | Tweeter | Website | Medium
